----

| x | Quarterly      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934 |
|---|---------------------------------------------------------------------------------------------------|

| o | Transition      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934 |
|---|----------------------------------------------------------------------------------------------------|

| 001-33009 |
|-----------|

| Commission      File Number |
|-----------------------------|

| BRITTON      & KOONTZ CAPITAL CORPORATION |
|-----------------------------------------------|

| (Exact      name of Registrant as Specified in ItsCharter) |
|------------------------------------------------------------|

| Mississippi                                                             |   | 64-0665423                                   |
|-------------------------------------------------------------------------|--------|----------------------------------------------|
| (State      or Other Jurisdiction ofIncorporation      or Organization) |   | (I.R.S.      Employer Identification Number) |

| 500 Main Street,      Natchez,Mississippi  39120 |
|------------------------------------------------------------|

| (Address      of Principal Executive Offices) (ZipCode) |
|---------------------------------------------------------|

| 601-445-5576 |
|--------------|

| (Registrant’s      Telephone Number, Including AreaCode) |
|----------------------------------------------------------------|

| Large      accelerated filer o                                                 | Accelerated      filer o         |
|--------------------------------------------------------------------------------|----------------------------------|
| Non-accelerated      filer o(Do      not check if a smaller reporting company) | Smaller      reporting company x |

----

Table of Contents 

B

| PART I.         | FINANCIAL INFORMATION                                                                                                     |
|-----------------|---------------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                                      |
|            |                                                                                                                      |
|            | Item 1.    Financial      Statements                                                                  |
|            |                                                                                                                      |
|            | Consolidated Balance Sheets                                                                                               |
|            | Consolidated Statements of Income                                                                                         |
|            | Consolidated Statements of Changes in Stockholders'      Equity                                                           |
|            | Consolidated Statements of Cash Flows                                                                                     |
|            | Notes to the Consolidated Financial      Statements                                                                       |
|            |                                                                                                                      |
|            | Item 2.   Management’s Discussion and Analysis      of Financial Condition and Results of Operations |
|            |                                                                                                                      |
|            | Item 3.   Quantitative and Qualitative      Disclosures About Market Risk                                  |
|            |                                                                                                                      |
|            | Item 4T. Controls and Procedures                                                                                          |
|            |                                                                                                                      |
|            |                                                                                                                      |
| PART II.        | OTHER INFORMATION                                                                                                         |
|            |                                                                                                                      |
|            | Item 2.    Unregistered Sales of Equity      Securities and Use of Proceeds                           |
|            |                                                                                                                      |
|            | Item 6.    Exhibits                                                                                   |
|            |                                                                                                                      |
|            |                                                                                                                      |
| SIGNATURES      |
|            |                                                                                                                      |
|            |                                                                                                                      |
| CERTIFICATIONS: |

Certification of Chief Executive Officer as required pursuantto section 302 of the Sarbanes Oxley Act of 2002

Certification of Chief Financial Officer as required pursuantto section 302 of the Sarbanes Oxley Act of 2002

Certification of Chief Executive Officer as required pursuantto section 906 of the Sarbanes Oxley Act of 2002

Certification of Chief Financial Officer as required pursuantto section 906 of the Sarbanes Oxley Act of 2002

----

Table of Contents 

----

Table of Contents 

BRITTON & KOONTZ CAPITAL CORPORATION ANDSUBSIDIARIES

|                                                                               |   | September      30, |        |   | December      31, |   |
|------------------------------------------------------------------------------------|--------|--------------------|-------------|--------|-------------------|--------|
|  ASSETS:                                                                      |   | 2009               |        |   | 2008              |   |
|  Cash      and due from banks:                                                |   |               |        |   |              |   |
|  Non-interest      bearing                                                    |   | $                  | 6,533,797   |   |              | $      | 6,752,462 |   |
|  Interest      bearing                                                        |   |               | 1,019,095   |   |              |   | 199,081 |   |
|         Total      cash and due from banks |   |               | 7,552,892   |   |              |   | 6,951,543 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|  Federal      funds sold                                                      |   |               | 314,942     |   |              |   | - |   |
|  Investment      Securities:                                                  |   |               |        |   |              |   |   |   |
|  Available-for-sale      (amortized cost, in 2009 and 2008,                   |   |               |        |   |              |   |   |   |
|      of      $94,834,708 and $108,548,988, respectively)  |   |               | 99,555,694  |   |              |   | 111,895,476 |   |
|  Held-to-maturity      (market value, in 2009 and 2008,                       |   |               |        |   |              |   |   |   |
|      of      $51,346,674 and $54,843,091, respectively)   |   |               | 49,782,534  |   |              |   | 54,815,013 |   |
|  Equity      securities                                                       |   |               | 3,261,100   |   |              |   | 4,009,938 |   |
|  Loans,      less allowance for loan losses of $2,444,714                     |   |               |        |   |              |   |   |   |
|      in      2009 and $2,397,802 in 2008                  |   |               | 221,066,179 |   |              |   | 223,113,495 |   |
|  Loans      held for sale                                                     |   |               | 764,500     |   |              |   | - |   |
|  Bank      premises and equipment, net                                        |   |               | 7,686,544   |   |              |   | 6,922,835 |   |
|  Other      real estate, net of reserves of $403,420 in 2009                  |   |               |        |   |              |   |   |   |
|      and      $198,390 in 2008                            |   |               | 1,177,100   |   |              |   | 919,204 |   |
|  Accrued      interest receivable                                             |   |               | 1,979,271   |   |              |   | 2,080,693 |   |
|  Cash      surrender value of life insurance                                  |   |               | 1,089,667   |   |              |   | 1,055,627 |   |
|  Core      Deposits, net                                                      |   |               | 477,330     |   |              |   | 558,042 |   |
|  Other      assets                                                            |   |               | 1,122,512   |   |              |   | 754,959 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|  TOTAL      ASSETS                                                            |   | $                  | 395,830,265 |   |              | $      | 413,076,825 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|                                                                               |   |               |        |   |              |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                          |   |
|                                                                               |   |               |        |   |              |   |   |   |
|                                                                               |   | September      30, |        |   | December      31, |   |
|  LIABILITIES:                                                                 |   |               | 2009        |   |              |   | 2008 |   |
|  Deposits                                                                     |   |               |        |   |              |   |   |   |
|  Non-interest      bearing                                                    |   | $                  | 43,381,549  |   |              | $      | 51,119,827 |   |
|  Interest      bearing                                                        |   |               | 208,819,093 |   |              |   | 206,094,593 |   |
|         Total      deposits                |   |               | 252,200,642 |   |              |   | 257,214,420 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|  Federal      Home Loan Bank advances                                         |   |               | 42,676,300  |   |              |   | 54,939,931 |   |
|  Securities      sold under repurchase agreements                             |   |               | 51,256,132  |   |              |   | 51,633,835 |   |
|  Accrued      interest payable                                                |   |               | 917,510     |   |              |   | 1,167,525 |   |
|  Advances      from borrowers for taxes and insurance                         |   |               | 232,386     |   |              |   | 313,810 |   |
|  Accrued      taxes and other liabilities                                     |   |               | 2,427,351   |   |              |   | 3,111,235 |   |
|  Junior      subordinated debentures                                          |   |               | 5,155,000   |   |              |   | 5,155,000 |   |
|         Total      liabilities             |   |               | 354,865,321 |   |              |   | 373,535,756 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|                                                                               |   |               |        |   |              |   |   |   |
|  STOCKHOLDERS'      EQUITY:                                                   |   |               |        |   |              |   |   |   |
|  Common      stock - $2.50 par value per share;                               |   |               |        |   |              |   |   |   |
|  12,000,000      shares authorized; 2,140,966 and 2,132,466 issued            |   |               |        |   |              |   |   |   |
|  and      2,126,466 and 2,117,966 outstanding, as of September 30,    2009,   |   |               |        |   |              |   |   |   |
|  and      December 31, 2008, respectively                                     |   |               | 5,352,415   |   |              |   | 5,331,165 |   |
|  Additional      paid-in capital                                              |   |               | 7,393,082   |   |              |   | 7,319,282 |   |
|  Retained      earnings                                                       |   |               | 25,516,763  |   |              |   | 25,049,749 |   |
|  Accumulated      other comprehensive income                                  |   |               | 2,960,059   |   |              |   | 2,098,248 |   |
|                                                                               |   |               | 41,222,319  |   |              |   | 39,798,444 |   |
|  Cost      of 14,500 shares of common stock held by the company               |   |               | (257,375    | )      |              |   | (257,375 | ) |
|         Total      stockholders' equity    |   |               | 40,964,944  |   |              |   | 39,541,069 |   |
|                                                                               |   |               |        |   |              |   |   |   |
|  TOTAL      LIABILITIES AND STOCKHOLDERS' EQUITY                              |   | $                  | 395,830,265 |   |              | $      | 413,076,825 |   |

----

Table of Contents 

B

|                                                               |   | Three      Months Ended |      |   | Nine      Months Ended |   |
|--------------------------------------------------------------------|--------|-------------------------|-----------|--------|------------------------|--------|
|                                                               |   | September      30,      |      |   | September      30,     |   |
|                                                               |   | 2009                    |      |   | 2008                   |   |   | 2009 |   |   | 2008 |   |
|  INTEREST INCOME:                                             |   |                    |      |   |                   |   |   |   |   |   |   |   |
|  Interest      and fees on loans                              |   | $                       | 3,458,116 |   |                   | $      | 3,811,902 |   |   | $ | 10,165,096 |   |   | $ | 12,077,937 |   |
|  Interest      on investment securities:                      |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|      Taxable      interest income         |   |                    | 1,398,981 |   |                   |   | 1,428,241 |   |   |   | 4,623,134 |   |   |   | 3,822,149 |   |
|      Exempt      from federal taxes       |   |                    | 432,203   |   |                   |   | 416,120 |   |   |   | 1,300,253 |   |   |   | 1,245,032 |   |
|  Interest      on federal funds sold                          |   |                    | 47        |   |                   |   | 1,474 |   |   |   | 167 |   |   |   | 4,569 |   |
|  Total      interest income                                   |   |                    | 5,289,347 |   |                   |   | 5,657,737 |   |   |   | 16,088,650 |   |   |   | 17,149,687 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  INTEREST      EXPENSE:                                       |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Interest      on deposits                                    |   |                    | 941,865   |   |                   |   | 1,212,286 |   |   |   | 3,009,474 |   |   |   | 4,214,165 |   |
|  Interest      on Federal Home Loan Bank advances             |   |                    | 50,649    |   |                   |   | 286,571 |   |   |   | 196,963 |   |   |   | 782,271 |   |
|  Interest      on trust preferred securities                  |   |                    | 47,743    |   |                   |   | 76,625 |   |   |   | 160,085 |   |   |   | 245,498 |   |
|  Interest      on securities sold under repurchase agreements |   |                    | 533,588   |   |                   |   | 542,806 |   |   |   | 1,574,918 |   |   |   | 1,626,631 |   |
|  Total      interest expense                                  |   |                    | 1,573,845 |   |                   |   | 2,118,288 |   |   |   | 4,941,440 |   |   |   | 6,868,565 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  NET      INTEREST INCOME                                     |   |                    | 3,715,502 |   |                   |   | 3,539,449 |   |   |   | 11,147,210 |   |   |   | 10,281,122 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Provision      for loan losses                               |   |                    | 920,000   |   |                   |   | 120,000 |   |   |   | 1,870,000 |   |   |   | 360,000 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  NET      INTEREST INCOME AFTER PROVISION                     |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  FOR      LOAN LOSSES                                         |   |                    | 2,795,502 |   |                   |   | 3,419,449 |   |   |   | 9,277,210 |   |   |   | 9,921,122 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  OTHER      INCOME:                                           |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Service      charges on deposit accounts                     |   |                    | 432,229   |   |                   |   | 489,450 |   |   |   | 1,258,638 |   |   |   | 1,326,362 |   |
|  Income      from fiduciary activities                        |   |                    | 300       |   |                   |   | 999 |   |   |   | 1,211 |   |   |   | 2,997 |   |
|  Income      from networking arrangements                     |   |                    | 17,813    |   |                   |   | 59,351 |   |   |   | 62,766 |   |   |   | 126,558 |   |
|  Gain/(loss)      on sale of mortgage loans                   |   |                    | 45,973    |   |                   |   | 55,037 |   |   |   | 156,169 |   |   |   | 176,114 |   |
|  Gain/(loss)      on sale/matured securities                  |   |                    | 19,280    |   |                   |   | - |   |   |   | 37,065 |   |   |   | 148,116 |   |
|  Other                                                        |   |                    | 116,529   |   |                   |   | 114,094 |   |   |   | 371,044 |   |   |   | 375,954 |   |
|  Total      other income                                      |   |                    | 632,124   |   |                   |   | 718,931 |   |   |   | 1,886,893 |   |   |   | 2,156,101 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  OTHER      EXPENSES:                                         |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Salaries                                                     |   |                    | 1,336,294 |   |                   |   | 1,347,170 |   |   |   | 4,024,732 |   |   |   | 4,137,534 |   |
|  Employee      benefits                                       |   |                    | 189,497   |   |                   |   | 177,865 |   |   |   | 572,025 |   |   |   | 547,327 |   |
|  Director      fees                                           |   |                    | 35,400    |   |                   |   | 41,400 |   |   |   | 108,945 |   |   |   | 125,000 |   |
|  Net      occupancy expense                                   |   |                    | 249,651   |   |                   |   | 251,436 |   |   |   | 709,422 |   |   |   | 718,499 |   |
|  Equipment      expenses                                      |   |                    | 315,494   |   |                   |   | 269,932 |   |   |   | 897,035 |   |   |   | 835,170 |   |
|  FDIC      assessment                                         |   |                    | 95,669    |   |                   |   | 10,602 |   |   |   | 491,759 |   |   |   | 25,093 |   |
|  Advertising                                                  |   |                    | 51,617    |   |                   |   | 54,178 |   |   |   | 182,432 |   |   |   | 154,494 |   |
|  Stationery      and supplies                                 |   |                    | 33,701    |   |                   |   | 39,764 |   |   |   | 118,485 |   |   |   | 127,487 |   |
|  Audit      expense                                           |   |                    | 62,425    |   |                   |   | 58,102 |   |   |   | 182,980 |   |   |   | 172,025 |   |
|  Other      real estate expense (includes gains on sale)      |   |                    | 134,157   |   |                   |   | 53,669 |   |   |   | 331,550 |   |   |   | 113,154 |   |
|  Amortization      of deposit premium                         |   |                    | 26,904    |   |                   |   | 26,904 |   |   |   | 80,712 |   |   |   | 80,712 |   |
|  Other                                                        |   |                    | 469,565   |   |                   |   | 460,763 |   |   |   | 1,410,963 |   |   |   | 1,423,447 |   |
|  Total      other expenses                                    |   |                    | 3,000,374 |   |                   |   | 2,791,785 |   |   |   | 9,111,040 |   |   |   | 8,459,942 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  INCOME      BEFORE INCOME TAX EXPENSE                        |   |                    | 427,252   |   |                   |   | 1,346,595 |   |   |   | 2,053,063 |   |   |   | 3,617,281 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Income      tax expense                                      |   |                    | 103,059   |   |                   |   | 403,515 |   |   |   | 371,065 |   |   |   | 979,869 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  NET      INCOME                                              |   | $                       | 324,193   |   |                   | $      | 943,080 |   |   | $ | 1,681,998 |   |   | $ | 2,637,412 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  EARNINGS      PER SHARE DATA:                                |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Basic      earnings per share                                |   | $                       | 0.15      |   |                   | $      | 0.45 |   |   | $ | 0.79 |   |   | $ | 1.25 |   |
|  Basic      weighted shares outstanding                       |   |                    | 2,126,466 |   |                   |   | 2,117,966 |   |   |   | 2,125,003 |   |   |   | 2,117,966 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|  Diluted      earnings per share                              |   | $                       | 0.15      |   |                   | $      | 0.45 |   |   | $ | 0.79 |   |   | $ | 1.25 |   |
|  Diluted      weighted shares outstanding                     |   |                    | 2,127,070 |   |                   |   | 2,117,966 |   |   |   | 2,125,282 |   |   |   | 2,117,966 |   |
|  Cash      dividends per share                                |   | $                       | 0.18      |   |                   | $      | 0.18 |   |   | $ | 0.54 |   |   | $ | 0.54 |   |
|                                                               |   |                    |      |   |                   |   |   |   |   |   |   |   |   |   |   |   |

----

Table of Contents 

B

|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|------------|--------|-----------|---------|--------|--------|-----------|--------|--------|---------------|------------|--------|----------|--------|-----------|---------------|--------|
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   | Accumulated   |       |   |     |   |      |          |   |
|                                                                                                                                       |   | Common      Stock |      |   | Additional |   |      |    |   |   | Other     |   |   |          |       |   | Total    |   |
|                                                                                                                                       |   |              |      |   |       |   |      | Paid-in |   |   | Retained  |   |   | Comprehensive |       |   | Treasury |   |      | Stockholders' |   |
|                                                                                                                                       |   | Shares            |      |   | Amount     |   |      | Capital |   |   | Earnings  |   |   | Income        |       |   | Stock    |   |      | Equity        |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |
|  Balance      at December 31, 2007                                                                                                    |   |              | 2,117,966 |   |       | $      | 5,331,165 |    |   | $      | 7,305,970 |   |   | $             | 23,071,921 |   |     | $      | 349,184   |          |   | $ | (257,375 | ) |   | $ | 35,800,865 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|        Comprehensive Income:                                                                                                          |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|             Net income                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          | 2,637,412  |   |     |   |      |          |   |   |   |   |   |   | 2,637,412 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|              Other comprehensive                                                                        |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                 income (net of tax):                                                          |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                    Net change in unrealized gain/(loss)                        |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                       on securities available for sale, net     |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                       of taxes of $(168,695)                    |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   | (283,571  | )             |   |   |   |   |   |   | (283,571 | ) |
|            Other Comprehensive gains from                                                                              |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                       derivatives, net of      reclassification |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                       adjustment of      $(69,545)              |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   | (116,903  | )             |   |   |   |   |   |   | (116,903 | ) |
| Total      Comprehensive income                                                                                                            |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   | 2,236,938 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
| Cash      Dividend paid $0.54 per share                                                                                                    |   |              |      |   |       |   |      |    |   |   |      |   |   |          | (1,143,702 | )      |     |   |      |          |   |   |   |   |   |   | (1,143,702 | ) |
| Fair      Value unexercised stock options                                                                                                  |   |              |      |   |       |   |      |    |   |   | 9,984     |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   | 9,984 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|  Balance      at September 30, 2008                                                                                                   |   |              | 2,117,966 |   |       | $      | 5,331,165 |    |   | $      | 7,315,954 |   |   | $             | 24,565,631 |   |     | $      | (51,290   | )             |   | $ | (257,375 | ) |   | $ | 36,904,085 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|  Balance      at December 31, 2008                                                                                                    |   |              | 2,117,966 |   |       | $      | 5,331,165 |    |   | $      | 7,319,282 |   |   | $             | 25,049,749 |   |     | $      | 2,098,248 |          |   | $ | (257,375 | ) |   | $ | 39,541,069 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|   Comprehensive      Income:                                                                                                     |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|             Net income                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          | 1,681,998  |   |     |   |      |          |   |   |   |   |   |   | 1,681,998 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|              Other comprehensive                                                                        |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                 income (net of tax):                                                          |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                   Net change in unrealized gain/(loss)                         |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                      on securities available for sale, net      |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|                      of taxes of $512,688                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   | 861,811   |          |   |   |   |   |   |   | 861,811 |   |
| Total      Comprehensive income                                                                                                            |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   | 2,543,809 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|  Cash      Dividend paid $0.54 per share                                                                                              |   |              |      |   |       |   |      |    |   |   |      |   |   |          | (1,148,292 | )      |     |   |      |          |   |   |   |   |   |   | (1,148,292 | ) |
|  Common      stock issued                                                                                                             |   |              | 8,500     |   |       |   | 21,250    |    |   |   | 65,450    |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   | 86,700 |   |
|  Unearned      compensation                                                                                                           |   |              |      |   |       |   |      |    |   |   |      |   |   |          | (66,692    | )      |     |   |      |          |   |   |   |   |   |   | (66,692 | ) |
|  Fair      Value unexercised stock options                                                                                            |   |              |      |   |       |   |      |    |   |   | 8,350     |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   | 8,350 |   |
|                                                                                                                                       |   |              |      |   |       |   |      |    |   |   |      |   |   |          |       |   |     |   |      |          |   |   |   |   |   |   |   |   |
|  Balance      at September 30, 2009                                                                                                   |   |              | 2,126,466 |   |       | $      | 5,352,415 |    |   | $      | 7,393,082 |   |   | $             | 25,516,763 |   |     | $      | 2,960,059 |          |   | $ | (257,375 | ) |   | $ | 40,964,944 |   |

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B

|                                                                   |   | 2009   |        |   | 2008   |   |
|------------------------------------------------------------------------|--------|--------|-------------|--------|--------|--------|
|  CASH FLOWS FROM OPERATING      ACTIVITIES                        |   |   |        |   |   |   |
|  Net      income                                                  |   | $      | 1,681,998   |   |   | $      | 2,637,412 |   |
|  Adjustments      to reconcile net income to net cash             |   |   |        |   |   |   |   |   |
|  provided      by (used in) operating activities:                 |   |   |        |   |   |   |   |   |
|  Deferred      income taxes                                       |   |   | (213,763    | )      |   |   | (151,264 | ) |
|  Provision      for loan losses                                   |   |   | 1,870,000   |   |   |   | 360,000 |   |
|  Provision      for losses on foreclosed real estate              |   |   | 205,030     |   |   |   | 105,030 |   |
|  Provision      for depreciation                                  |   |   | 571,746     |   |   |   | 560,085 |   |
|  Stock      dividends received                                    |   |   | (6,200      | )      |   |   | (49,200 | ) |
|  (Gain)/loss      on sale of other real estate                    |   |   | 80,639      |   |   |   | (32,694 | ) |
|  (Gain)/loss      on sale of mortgage loans                       |   |   | (156,169    | )      |   |   | (176,114 | ) |
|  (Gain)/loss      on sale of investment securities                |   |   | (37,065     | )      |   |   | (148,116 | ) |
|  (Gain)/loss      on sale of other securities                     |   |   | (1,262      | )      |   |   | 1,262 |   |
|  Net      amortization (accretion) of securities                  |   |   | 8,223       |   |   |   | (66,552 | ) |
|  Amortization      of deposit premium                             |   |   | 80,712      |   |   |   | 80,712 |   |
|  Writedown      of other real estate                              |   |   | 83,435      |   |   |   | - |   |
|  Unearned      compensation                                       |   |   | (66,692     | )      |   |   | - |   |
|  Proceeds      from sales, maturities and paydowns                |   |   |        |   |   |   |   |   |
|  of      trading securities                                       |   |   | -           |   |   |   | 19,349,806 |   |
|  Net      change in:                                              |   |   |        |   |   |   |   |   |
|  Loans      held for sale                                         |   |   | 764,500     |   |   |   | - |   |
|  Accrued      interest receivable                                 |   |   | 101,422     |   |   |   | 86,551 |   |
|  Cash      surrender value                                        |   |   | (34,040     | )      |   |   | (32,546 | ) |
|  Other      assets                                                |   |   | (367,552    | )      |   |   | 251,645 |   |
|  Accrued      interest payable                                    |   |   | (250,015    | )      |   |   | (799,428 | ) |
|  Accrued      taxes and other liabilities                         |   |   | (982,809    | )      |   |   | 112,103 |   |
|                                                                   |   |   |        |   |   |   |   |   |
|  Net      cash provided by (used in) operating activities         |   |   | 3,332,138   |   |   |   | 22,088,692 |   |
|                                                                   |   |   |        |   |   |   |   |   |
|  CASH FLOWS FROM INVESTING      ACTIVITIES                        |   |   |        |   |   |   |   |   |
|  (Increase)/decrease      in federal funds sold                   |   |   | (314,942    | )      |   |   | 207,478 |   |
|  Proceeds      from sales, maturities and paydowns of securities: |   |   |        |   |   |   |   |   |
|  Available-for-sale                                               |   |   | 25,678,860  |   |   |   | 8,148,272 |   |
|  Held-to-maturity                                                 |   |   | 9,195,867   |   |   |   | 3,074,478 |   |
|  Redemption      of FHLB stock                                    |   |   | 756,300     |   |   |   | 945,400 |   |
|  Purchase      of FHLB stock                                      |   |   | -           |   |   |   | (1,736,200 | ) |
|  Purchase      of securities:                                     |   |   |        |   |   |   |   |   |
|  Available-for-sale                                               |   |   | (11,967,395 | )      |   |   | (35,168,412 | ) |
|  Held-to-maturity                                                 |   |   | (4,131,731  | )      |   |   | (17,217,207 | ) |
|  (Increase)/decrease      in loans                                |   |   | (2,323,967  | )      |   |   | 278,949 |   |
|  Proceeds      from sale of loans                                 |   |   | -           |   |   |   | 511,808 |   |
|  Proceeds      from sale and transfers of other real estate       |   |   | 501,452     |   |   |   | - |   |
|  Purchase      of premises and equipment                          |   |   | (1,335,455  | )      |   |   | (177,401 | ) |
|                                                                   |   |   |        |   |   |   |   |   |
|  Net      cash provided by (used in) investing activities         |   |   | 16,058,989  |   |   |   | (41,132,835 | ) |

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|                                                                  |   |   |        |   |   |   |
|-----------------------------------------------------------------------|--------|--------|-------------|--------|--------|--------|
|                                                                  |   | 2009   |        |   | 2008   |   |
|  CASH FLOWS FROM FINANCING      ACTIVITIES                       |   |   |        |   |   |   |
|  Increase      /(decrease) in customer deposits                  |   |   | (5,100,683  | )      |   |   | (4,563,107 | ) |
|  Increase      /(decrease) in brokered deposits                  |   |   | 86,905      |   |   |   | (4,782,751 | ) |
|  Increase      /(decrease) in securities sold under              |   |   |        |   |   |   |   |   |
|  repurchase      agreements                                      |   |   | (377,703    | )      |   |   | 2,164,570 |   |
|  Increase      /(decrease) in FHLB advances                      |   |   | (12,263,631 | )      |   |   | 25,867,137 |   |
|  Increase      /(decrease) in advances from borrowers            |   |   |        |   |   |   |   |   |
|  for      taxes and insurance                                    |   |   | (81,424     | )      |   |   | (88,242 | ) |
|  Cash      dividends paid                                        |   |   | (1,148,292  | )      |   |   | (1,143,701 | ) |
|  Common      stock issued                                        |   |   | 86,700      |   |   |   | - |   |
|  Fair      value of unexercised stock options                    |   |   | 8,350       |   |   |   | 9,984 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  Net      cash provided by (used in) financing activities        |   |   | (18,789,778 | )      |   |   | 17,463,890 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  NET      INCREASE/(DECREASE) IN CASH AND DUE FROM BANKS         |   |   | 601,349     |   |   |   | (1,580,253 | ) |
|                                                                  |   |   |        |   |   |   |   |   |
|  CASH      AND DUE FROM BANKS AT BEGINNING OF PERIOD             |   |   | 6,951,543   |   |   |   | 8,732,307 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  CASH      AND DUE FROM BANKS AT END OF PERIOD                   |   | $      | 7,552,892   |   |   | $      | 7,152,054 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|                                                                  |   |   |        |   |   |   |   |   |
|                                                                  |   |   |        |   |   |   |   |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  SUPPLEMENTAL      DISCLOSURES OF CASH FLOW                      |   |   |        |   |   |   |   |   |
|  INFORMATION:                                                    |   |   |        |   |   |   |   |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  Cash      paid during the period for interest                   |   | $      | 5,191,455   |   |   | $      | 7,667,994 |   |
|  Cash      paid during the period for income taxes               |   | $      | 1,463,199   |   |   | $      | 698,186 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  SCHEDULE      OF NONCASH INVESTING AND                          |   |   |        |   |   |   |   |   |
|  FINANCING      ACTIVITIES:                                      |   |   |        |   |   |   |   |   |
|                                                                  |   |   |        |   |   |   |   |   |
|   Transfers      from loans foreclosed to other real estate |   | $      | 1,128,452   |   |   | $      | 1,227,160 |   |
|                                                                  |   |   |        |   |   |   |   |   |
|  Change      in unrealized gains (losses)                        |   |   |        |   |   |   |   |   |
|   on      securities available for sale                     |   | $      | 1,374,499   |   |   | $      | (452,266 | ) |
|                                                                  |   |   |        |   |   |   |   |   |
|  Change      in the deferred tax effect in unrealized            |   |   |        |   |   |   |   |   |
|   gains      (losses) on securities available for sale      |   | $      | 512,688     |   |   | $      | (168,695 | ) |
|                                                                  |   |   |        |   |   |   |   |   |
|  Change      in unrealized gains (losses) on derivative          |   | $      | -           |   |   | $      | (186,448 | ) |
|                                                                  |   |   |        |   |   |   |   |   |
|  Change      in the deferred tax effect in                       |   |   |        |   |   |   |   |   |
|  unrealized      gains (losses) on derivative                    |   | $      | -           |   |   | $      | (69,545 | ) |

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|                                             |   | For      the three months endedSeptember      30, |      |
|--------------------------------------------------|--------|---------------------------------------------------|-----------|
|                                             |   | 2009                                              |      |   | 2008 |   |
| Basic      weighted average shares outstanding   |   |                                              | 2,126,466 |   |   |   | 2,117,966 |   |
| Dilutive      effect of granted options          |   |                                              | 604       |   |   |   | 0 |   |
| Diluted      weighted average shares outstanding |   |                                              | 2,127,070 |   |   |   | 2,117,966 |   |
| Net      income                                  |   | $                                                 | 324,193   |   |   | $ | 943,080 |   |
| Net      income per share-basic                  |   | $                                                 | 0.15      |   |   | $ | 0.45 |   |
| Net      income per share-diluted                |   | $                                                 | 0.15      |   |   | $ | 0.45 |   |

|                                             |   | For      the nine months endedSeptember      30, |      |
|--------------------------------------------------|--------|--------------------------------------------------|-----------|
|                                             |   | 2009                                             |      |   | 2008 |   |
| Basic      weighted average shares outstanding   |   |                                             | 2,125,003 |   |   |   | 2,117,966 |   |
| Dilutive      effect of granted options          |   |                                             | 279       |   |   |   | 0 |   |
| Diluted      weighted average shares outstanding |   |                                             | 2,125,282 |   |   |   | 2,117,966 |   |
| Net      income                                  |   | $                                                | 1,681,998 |   |   | $ | 2,637,412 |   |
| Net      income per share-basic                  |   | $                                                | 0.79      |   |   | $ | 1.25 |   |
| Net      income per share-diluted                |   | $                                                | 0.79      |   |   | $ | 1.25 |   |

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|                                          |   | September      30, 2009 |    |   | December      31, 2008      |   |
|-----------------------------------------------|--------|-------------------------|---------|--------|-----------------------------|--------|
|                                          |   | Carrying                |    |   | Fair                        |   |   | Carrying |   |   | Fair |   |
|                                          |   | Amount                  |    |   | Value                       |   |   | Amount |   |   | Value |   |
|                                          |   |                    |    |   | (dollars      in Thousands) |   |   |   |   |
| Financial      Assets:                        |   |                    |    |   |                        |   |   |   |   |   |   |   |
| Cash      and due from banks                  |   | $                       | 7,553   |   |                        | $      | 7,553 |   |   | $ | 6,951 |   |   | $ | 6,951 |   |
| Investment      securities:                   |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
|    Held-to-maturity            |   |                    | 49,783  |   |                        |   | 51,347 |   |   |   | 54,815 |   |   |   | 54,843 |   |
|    Available-for-sale          |   |                    | 99,556  |   |                        |   | 99,556 |   |   |   | 111,895 |   |   |   | 111,895 |   |
|    Equity      securities      |   |                    | 3,261   |   |                        |   | 3,261 |   |   |   | 4,010 |   |   |   | 4,010 |   |
| Cash      surrender value of life insurance   |   |                    | 1,090   |   |                        |   | 1,090 |   |   |   | 1,056 |   |   |   | 1,056 |   |
| Loans,      net                               |   |                    | 221,831 |   |                        |   | 224,708 |   |   |   | 223,114 |   |   |   | 224,428 |   |
|                                          |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Financial      Liabilities:                   |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                      |   |                    | 252,201 |   |                        |   | 253,058 |   |   |   | 257,214 |   |   |   | 258,320 |   |
| Short-term      borrowings                    |   |                    | 35,676  |   |                        |   | 35,671 |   |   |   | 54,121 |   |   |   | 54,107 |   |
| Long-term      borrowings                     |   |                    | 7,000   |   |                        |   | 7,144 |   |   |   | 819 |   |   |   | 825 |   |
| Securities      sold under                    |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
|    repurchase      agreements: |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Retail                                        |   |                    | 11,256  |   |                        |   | 11,254 |   |   |   | 11,634 |   |   |   | 11,638 |   |
| Structured                                    |   |                    | 40,000  |   |                        |   | 43,578 |   |   |   | 40,000 |   |   |   | 44,185 |   |
| Junior      subordinated debentures           |   |                    | 5,155   |   |                        |   | 5,155 |   |   |   | 5,155 |   |   |   | 5,155 |   |
|                                          |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   | FaceAmount              |    |   | Fair Value             |   |   | FaceAmount |   |   | Fair Value |   |
| Other:                                        |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Commitments      to extend credit             |   | $                       | 41,793  |   |                        | $      | 41,793 |   |   | $ | 52,133 |   |   | $ | 52,133 |   |
| Standby      letters of credit                |   |                    | 3,637   |   |                        |   | 3,637 |   |   |   | 3,575 |   |   |   | 3,575 |   |
|                                          |   |                    |    |   |                        |   |   |   |   |   |   |   |   |   |   |   |

|      Description | Fair      Value Measurements at September 30, 2009 |       | Quoted      Prices in Active Markets for Identical Assets(Level      1) |   |   Significant      Other Observable Inputs(Level      2) |   |    Significant      Unobservable Inputs(Level      3) |
|-------------------------------------------|----------------------------------------------------|------------|-------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|----------------------------------------------------------------------|
|  Securities      available-for-sale  | $                                                  | 99,555,694 |                                                                    |   |                                                               | $      | 99,555,694                                                           |   |   |

|  Level      1 includes      the most reliable sources, and includes quoted prices for identical      instruments in active markets.  Level 2 includes      observable inputs.  Observable inputs are defined to include      “inputs other than quoted prices that are observable for the asset or      liability (for example, interest rates and yield curves at commonly quoted      intervals, volatilities, prepayment speeds, loss severities, credit risks,      and default rates)” as well as “inputs that are derived principally from      or corroborated by observable market data by correlation or other means      (market-corroborated inputs).”  Level 3 includes      unobservable inputs and should be used only when observable inputs are      unavailable. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                                |   | 09/30/09 |        |   | 12/31/08 |   |
|-------------------------------------------------------------------------------------|--------|----------|-------------|--------|----------|--------|
| Mortgage-Backed      Securities                                                     |   | $        | 103,708,536 |   |     | $      | 123,834,755 |   |
| Obligations      of State and                                                       |   |     |        |   |     |   |   |   |
| Political      Subdivisions                                                         |   |     | 40,908,706  |   |     |   | 39,529,246 |   |
|              Total |   | $        | 144,617,242 |   |     | $      | 163,364,001 |   |

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|                                          |   | 09/30/09 |        |   | 12/31/08 |   |
|-----------------------------------------------|--------|----------|-------------|--------|----------|--------|
| Commercial,      financial & agricultural |   | $        | 26,810,000  |   |     | $      | 25,128,000 |   |
| Real      estate-construction                 |   |     | 27,513,000  |   |     |   | 30,910,000 |   |
| Real      estate-1-4 family residential       |   |     | 55,502,000  |   |     |   | 65,312,000 |   |
| Real      estate-other                        |   |     | 109,080,000 |   |     |   | 97,952,000 |   |
| Installment                                   |   |     | 5,210,000   |   |     |   | 6,038,000 |   |
| Other                                         |   |     | 160,000     |   |     |   | 171,000 |   |
| Total      loans                              |   | $        | 224,275,000 |   |     | $      | 225,511,000 |   |

|                                                  |   | 09/30/09                    |   |   | 12/31/08 |   |
|-------------------------------------------------------|--------|-----------------------------|--------|--------|----------|--------|
|                                                  |   | (dollars      in thousands) |   |
| Non-accrual      loans by type:                       |   |                        |   |   |     |   |
| Real      estate                                      |   | $                           | 6,010  |   |     | $      | 3,364 |   |
| Installment                                           |   |                        | 71     |   |     |   | 86 |   |
| Commercial      and all other loans                   |   |                        | 68     |   |     |   | 118 |   |
| Total      non-accrual loans                          |   |                        | 6,148  |   |     |   | 3,568 |   |
| Loans      past due 90 days or more                   |   |                        | 1,010  |   |     |   | 518 |   |
| Total      nonperforming loans                        |   |                        | 7,158  |   |     |   | 4,086 |   |
| Other      real estate owned (net)                    |   |                        | 1,177  |   |     |   | 919 |   |
| Total      nonperforming assets                       |   | $                           | 8,335  |   |     | $      | 5,005 |   |
| Nonperforming      loans to total loans, net of LHFS  |   |                        | 3.20   | %      |     |   | 1.81 | % |
| Nonperforming      loans to total assets              |   |                        | 1.81   | %      |     |   | .99 | % |
| Nonperforming      assets to total loans, net of LHFS |   |                        | 3.73   | %      |     |   | 2.22 | % |
| Nonperforming      assets to total assets             |   |                        | 2.11   | %      |     |   | 1.21 | % |

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|                                                                      |   | 09/30/09                    |   |   | 09/30/08 |   |
|---------------------------------------------------------------------------|--------|-----------------------------|--------|--------|----------|--------|
|                                                                      |   | (dollars      in thousands) |   |
| Balance      at beginning of period                                       |   | $                           | 2,398  |   |     | $      | 2,431 |   |
| Charge-offs:                                                              |   |                        |   |   |     |   |   |   |
| Real      Estate                                                          |   |                        | (1,759 | )      |     |   | (474 | ) |
| Commercial                                                                |   |                        | (98    | )      |     |   | (303 | ) |
| Installment      and other                                                |   |                        | (19    | )      |     |   | (34 | ) |
| Recoveries:                                                               |   |                        |   |   |     |   |   |   |
| Real      Estate                                                          |   |                        | 25     |   |     |   | 19 |   |
| Commercial                                                                |   |                        | 23     |   |     |   | 221 |   |
| Installment      and other                                                |   |                        | 5      |   |     |   | 72 |   |
| Net      (charge-offs)/recoveries                                         |   |                        | (1,823 | )      |     |   | (499 | ) |
| Provision      charged to operations                                      |   |                        | 1,870  |   |     |   | 360 |   |
| Balance      at end of period                                             |   | $                           | 2,445  |   |     | $      | 2,292 |   |
| Allowance      for loan losses to total loans, net of loans held-for-sale |   |                        | 1.09   | %      |     |   | 1.03 | % |
| Net      charge-offs (year-to-date)      to average loans                 |   |                        | .82    | %      |     |   | .22 | % |

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|                               |   | 09/30/09 |        |   | 12/31/08 |   |
|------------------------------------|--------|----------|-------------|--------|----------|--------|
| Non-Interest      Bearing          |   | $        | 43,381,549  |   |     | $      | 51,119,827 |   |
| NOW      Accounts                  |   |     | 58,349,122  |   |     |   | 48,338,323 |   |
| Money      Market Deposit Accounts |   |     | 33,323,192  |   |     |   | 33,662,518 |   |
| Savings      Accounts              |   |     | 17,913,395  |   |     |   | 17,736,516 |   |
| Certificates      of Deposit       |   |     | 99,233,384  |   |     |   | 106,357,236 |   |
| Total      Deposits                |   | $        | 252,200,642 |   |     | $      | 257,214,420 |   |

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| Exhibit |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 3.1     | *      | Amended      and Restated Articles of Incorporation of Britton & Koontz Capital      Corporation, incorporated by reference to Exhibit 3.01 to the Company’s      Current Report on Form 8-K filed with the Securities and Exchange      Commission (“Commission”) on February 20, 2009.                                                                                                                                                                                                                                                                                                                                                     |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 3.2     | *      | By-Laws      of Britton & Koontz Capital Corporation, as amended, incorporated by      reference to Exhibit 3.2 to Company’s Current Report on Form 8-K filed      with the Commission on October 22, 2008.                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 4.1     | *      | Shareholder      Rights Agreement dated June 1, 1996, between Britton & Koontz Capital      Corporation and Britton & Koontz First National Bank, as Rights Agent,      incorporated by reference to Exhibit 4.3 to Registrant’s Registration      Statement on Form S-8, Registration No. 333-20631, filed with the      Securities and Exchange Commission on January 29, 1997, as amended by      Amendment No. 1 to Rights Agreement dated as of August 15, 2006,      incorporated by reference to Exhibit 4.2 to Registrant’s Current Report on      Form 8-K filed with the Securities and Exchange Commission on August 17,      2006. |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 31.1    |   | Certifications      of the Chief Executive Officer, as required pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 31.2    |   | Certifications      of the Chief Financial Officer, as required pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 32.1    |   | Certifications      of the Chief Executive Officer, as required pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 32.2    |   | Certifications      of the Chief Financial Officer, as required pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

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S

| Date:  | November      13, 2009 | /s/ W. Page Ogden                                              |
|--------|------------------------|----------------------------------------------------------------|
|   |                   | W.      Page Ogden                                             |
|   |                   | Chief      Executive Officer(Principal      Executive Officer) |

| Date:  | November      13, 2009 | /s/ William M.  Salters                                        |
|--------|------------------------|----------------------------------------------------------------|
|   |                   | William      M. Salters                                        |
|   |                   | Chief      Financial Officer(Principal      Financial Officer) |

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EX

| Exhibit | Description of Exhibit                                                                                                         |
|---------|--------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                           |
| 31.1    | Certifications      of the Chief Executive Officer, as required pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                           |
| 31.2    | Certifications      of the Chief Financial Officer, as required pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                           |
| 32.1    | Certifications      of the Chief Executive Officer, as required pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                           |
| 32.2    | Certifications      of the Chief Financial Officer, as required pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002 |